If government decides, it can reduce defense spending and even spending on education to a penny, but it can't do that with Social Security. Why not? (Hint: Distinguish between a trust fund and discretionary government spending.)
Answer to relevant QuestionsIs the level of government spending too high? How has it grown? How does it compare to government spending in other industrial economies? What is the federal government's most important source of tax revenue? What are the state and local governments' most important sources of tax revenue? Consider two trading partners: Canada and Ireland. Suppose someone told you that in the production of corn, Canada has an absolute advantage, but in the production of sheep, Ireland has a comparative advantage. What does ...The European Union started out as a customs union of six nations, but that is not what it is today. What is it today? Fill in the blank cell--labor-hours to produce a unit of French wine--to show no advantage to either France or England in trading with each other. Explain.
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